The last year has been a tough one for cannabis investors. After performing strongly since the start of 2017, many high-flying marijuana stocks have plunged sharply in the wake of Canopy Growth’s (TSX:WEED)(NYSE:CGC) disappointing fiscal fourth-quarter 2019 earnings, which sparked considerable doubts about the earnings potential for cannabis companies.

While there are signs that cannabis stocks could be in a bubble, there is every indication that the burgeoning global marijuana industry is here to stay and can only continue growing despite recent hiccups.

There are many conflicting opinions with regards to the safety of using medicinal cannabis.

The estimated 113 cannabinoids contained in cannabis plants offer varying medical purposes, however, most treatment options have not been effectively researched.

Companies that have focused on the efficacy and safety of using medicinal cannabis have gained a strong advantage in helping to educate patients and professionals on the use of cannabis. Today we have identified four Canadian cannabis stocks that have focused on clinical studies to determine the potential medical benefits of cannabis.

ParcelPal Technology Inc. ("ParcelPal" or the "Company"), (CSE: PKG) (FSE: PT0) (OTC: PTNYF) is pleased to announce that it has formed a strategic partnership with Ontario based craft brewery Cowbell Brewing Co. ("Cowbell").

As part of the Company's national rollout strategy, ParcelPal is acquiring customers within the Ontario region in preparation for expansion, Cowbell being the first. Customers will be able to purchase product, track their purchase in real time and have their product delivered to any location they specify in under an hour.

National inventory levels of unfinished cannabis rose in April, potentially accentuating the risk of a glut of unsold legal marijuana in Canada that could wind up being worthless.

The total inventory of finished and unfinished dried cannabis held by cultivators, processors, distributors and retailers stood at 215,665 kilograms in April, approximately 24.4 times the amount of total sales in the month, according to data released by Health Canada late Tuesday. The total amount of finished dried cannabis products held in inventory at the end of April was 31,880 kilograms, up 3.5 per cent compared to March. 

According to a newly released report from the duo of Arcview Market Research and BDS Analytics titled "State of the Legal Cannabis Markets," global cannabis sales could grow in excess of 24% per year through 2024. After registering $10.9 billion in legal sales in 2018, Arcview and BDS have forecast more than $40 billion in worldwide weed sales in licensed stores by 2024. That makes cannabis one of the fastest-growing industries on the planet.

Pot stocks have managed to garner a large amount of attention in only a short period of time. With legislation in the U.S. and Canada working to reflect the desires of the public, it seems as though we may be living in the friendliest time to invest in cannabis stocks that have ever existed.

Seattle-based cannabis website Leafly is expanding its order and delivery system that first launched March 2018 in the U.S., to Canada. Dubbed Leafly Pickup, this function operates pretty much the way it has stateside: Customers check out the menus of participating cannabis retailers, order what they want and then pick up the products directly in-store from the retailer.

Shares of HEXO (TSX:HEXO) are down nearly 40% from the April high, and investors who missed the big rally to start the year are wondering if the pullback is an opportunity to start a new position in the popular marijuana stock.

Let’s take a look at the current situation to see if HEXO deserves to be on your buy list.

Researchers who pored over the blood work of more than 3,000 drivers involved in crashes in British Columbia have concluded cannabis was a non-factor when it comes to responsibility for those crashes.

But don’t take that as licence to roll another number for the road, said a Halifax addictions expert who co-authored the study.

“I’ve witnessed the evidence over 20 years,” said Dr. Mark Asbridge, a researcher and professor at Dalhousie University’s department of community health and epidemiology.

The marijuana industry is projected to grow exponentially within the next half-decade or so. While there are dozens of companies looking to profit from this growth, most will likely end up being duds. Investing in the right ones, however, could mean substantial gains in the coming years.

Let’s look at two cheap pot companies that are largely flying under the radar: Emerald Health Therapeutics (TSXV:EMH) and The Supreme Cannabis Company(TSX:FIRE).